Sovereign Financial Group Inc. Purchases 144 Shares of Amgen Inc. (NASDAQ:AMGN)

Sovereign Financial Group Inc. lifted its position in Amgen Inc. (NASDAQ:AMGN) by 11.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,451 shares of the medical research company’s stock after buying an additional 144 shares during the period. Sovereign Financial Group Inc.’s holdings in Amgen were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Amgen by 0.3% in the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after purchasing an additional 165,636 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Amgen by 3.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock worth $1,890,769,000 after buying an additional 243,720 shares during the last quarter. Royal Bank of Canada grew its position in Amgen by 14.8% during the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after buying an additional 751,947 shares during the period. Norges Bank purchased a new stake in Amgen during the fourth quarter valued at approximately $1,556,912,000. Finally, California Public Employees Retirement System raised its position in Amgen by 22.0% in the fourth quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock worth $782,288,000 after acquiring an additional 490,539 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $313.69 on Friday. The company has a fifty day simple moving average of $299.67 and a two-hundred day simple moving average of $291.67. Amgen Inc. has a 52 week low of $218.44 and a 52 week high of $329.72. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The firm has a market capitalization of $168.27 billion, a P/E ratio of 44.81, a price-to-earnings-growth ratio of 2.88 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same quarter last year, the business posted $3.98 earnings per share. The firm’s revenue was up 22.0% on a year-over-year basis. Analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $230.00 to $300.00 in a report on Friday, May 3rd. Morgan Stanley raised their price objective on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Truist Financial reiterated a “buy” rating and set a $320.00 price objective on shares of Amgen in a research note on Friday, April 12th. Finally, Mizuho raised their target price on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $307.35.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.